Market Overview

Netherlands-based Pon Holdings Signs Agreement to Enter North American Retail Automobile Market with Investment in Houston Texas based indiGO Auto Group


Houston-based indiGO Auto Group and Pon Holdings BV of the Netherlands
announced today that they have signed an agreement to form a strategic
alliance in North America which will focus on luxury and performance
cars. Pon Holdings chose to make a financial investment in the indiGO
Auto Group to execute a strategic goal to expand into the U.S. luxury
retail vehicle market.

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Pictured L to R: Todd Blue, Founder and CEO of The indiGO Auto Group; Janus Smallbraak, CEO Pon Hold ...

Pictured L to R: Todd Blue, Founder and CEO of The indiGO Auto Group; Janus Smallbraak, CEO Pon Holdings, Paul Van Splunteren, President of Pon Luxury Cars (Photo: Business Wire)

indiGO currently represents 11 brands in the luxury segment: Porsche,
Audi, Jaguar, Land Rover, Rolls-Royce, Bentley, Aston Martin, Maserati,
BMW, McLaren and Lamborghini. The company has 300+ employees in 10
retail franchised dealerships in Houston, TX, St. Louis, MO, and Palm
Springs and Rancho Mirage, CA.

Todd Blue, Founder and CEO of indiGO Auto Group, came to terms on an
agreement in The Netherlands on June 26, 2017 just prior to an event
celebrating Pon's 70th anniversary of its relationship with
Volkswagen AG (as its distributor in The Netherlands).

"We have a shared vision for how customers are to experience these great
brands which we are both so honored to represent. Pon has a deep
understanding of this business and six decades of success with Porsche.
Pon's access to growth capital will go toe-to-toe with anyone in our
sector. I admire that Pon is always looking toward the future with a
unique and progressive perspective. Pon's worldwide leadership in the
future of mobility is something for which we at indiGO are incredibly
energized. This is a great opportunity for current and future indiGO
team members to be a part of something truly special," said Blue who
will continue to lead the company in North America as its CEO.

"indiGO Auto Group provides us with the ideal platform into the U.S.
vehicle market," said a Pon spokesman. "Our combined expertise in luxury
vehicle sales, along with indiGO's outstanding reputation and
established leadership position in several key regions, offer a great
starting point upon which we expect to achieve thoughtful but
significant business growth in the North American market in coming

While this agreement marks a return to the automotive retail market in
the U.S. for Pon, the company and the Pon family have a long history in
this sector around the world. Ben Pon, Sr., the company founder, became
the first person to import Volkswagens to America in 1949. In fact, Pon,
Sr., drafted and conceived the original Volkswagen minivan bus.

This partnership builds on Pon's expansion of its mobility portfolio in
North America, through the acquisition of the San Francisco-based
Faraday e-bike label and the high-end performance bicycle brands Santa
Cruz and Cervélo. The group also sells Gazelle and Kalkhoff e-bikes in
North America, in response to the rapidly growing market for electric

Pon Holdings operates in 32 countries and has over 14,000 employees. Pon
already imports and sells the Volkswagen, Porsche, Audi, Lamborghini,
Bentley and Bugatti brands (among others) in the Netherlands. Pon and
indiGO plan to grow organically and through acquisitions in North

Blue said, "My mission for indiGO has always been clear; we continually
strive to improve and remain unique and authentic in everything we
do. The alliance we have formed with Pon will be unlike any other auto
group. indiGO is a nimble, entrepreneurial culture which executes for
our team members and the manufacturers we represent. Our ultimate goal
has always been to activate customer ownership. This formula is a
proven and successful business model. With Pon's deep automotive
experience, resources and their financial commitment to grow
strategically in the North American market, indiGO will be strengthened
to create the most competitive and best luxury auto group in North
America. All of this will be a tremendous benefit to our indiGO team
members and our loyal customers."

About indiGO Auto Group

The Houston-based indiGO Auto Group represents twelve franchised
dealerships in four US markets including Houston, TX; Rancho Mirage, CA;
Palm Springs, CA; and St. Louis, MO. Porsche North Houston is a top 15
Porsche dealership in the nation. Lamborghini Houston is currently the
best-selling Lamborghini retailer in the United States. The acquisition
of BMW of Palm Springs in 2016 marked indiGO's newest addition to its
roster of luxury brands across the nation. indiGO Auto Group's Desert
European Motorcars campus in Rancho Mirage, CA is comprised of nine
luxury brands including Rolls-Royce Motor Cars, Bentley, Aston Martin,
Jaguar, Land Rover, Porsche, Audi, Maserati, and McLaren. The company
opened Porsche St. Louis in August 2015, and in 2017 it was named a
Porsche Premier Dealership. IndiGO Auto Group has been awarded the
Rolls-Royce Motor Cars 2015 Global Provenance Dealer of the Year award,
and The Pride of Jaguar award for retailer excellence. Porsche of North
Houston has been named a Porsche Premier Dealer for four years, and Audi
Rancho Mirage has earned the Audi Magna Society Award for two years

About Pon Holdings

Pon Holdings – one of the Netherlands' biggest family businesses – is a
leading global company with nearly 14,000 employees operating in 32
countries. It supplies high-end products and solutions, develops and
manufactures bicycles, and offers engineering solutions in several
market segments. Pon operates in a large number of markets, from private
and commercial vehicles and bicycles, to forklift trucks, tires, road
and earthmoving machinery, generators, and total solutions for the
shipping industry.

The bicycle division within the Pon group consists of premium brand
portfolio of more than 10 bicycle brands. The group has locations in the
Netherlands, Germany, the United States, Canada, China, Taiwan, and
Australia. In 2017 some 800,000 Pon bikes will make their way to
customers around the world.

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